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With a gross floor area of around 55,000 sq ft, the property occupies an 86,143.5 sq ft site and is zoned for Business 2 use. It comes with a lease term of 30 years from JTC Corporation. Photo: Colliers
A single-storey warehouse with a two-storey annex office at 2 Penjuru Lane has been put up for sale via expression of interest (EOI), revealed marketing agent Colliers International.
With a gross floor area of around 55,000 sq ft, the property occupies an 86,143.5 sq ft site and is zoned for Business 2 use. It comes with a lease term of 30 years from JTC Corporation. Currently, the majority of the space is utilised by the owner.
Colliers noted that the property is located in Tanjong Penjuru within the Jurong Industrial Estate, and is well served by major expressways like the West Coast Highway, the Ayer Rajah Expressway and the Pan Island Expressway.
The location, which is established as a logistics area, is well sought after because of its proximity to Jurong Port, the Central Business District, future Tuas Megaport as well as key container yards.
“B2 industrial land with approved warehouse use is hard to come by in this much sought after location. As the current land is under-utilised, there is a substantial untapped gross floor area of about 215,000 sq ft based on the Master Plan 2019,” said Steven Tan, Executive Director of Investment Services at Colliers International.
And with the logistics sector showing great resilience amid the COVID-19 pandemic, Tan – who is handling the sale – said the property would satisfy immediate warehousing needs and future expansion requirements.
“Other alternative uses other than warehousing under B2 which can be considered maybe Core Media, E-business, repair and servicing etc.,” he added.
The EOI exercise for the property closes on 6 August.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
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